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News posted on Wednesday, 29 June 2016

The “Demolition Man” Syndrome: A Vision of the Future of Wine in America?
I’ve been catching up on my wine industry reading and one report that grabbed by attention is Rabobank’s May 2016 Industry Note, “The Premiumization Conundrum”. The gist of the analysis is that the premiumization trend in the U.S. wine market isn’t simply a case of what Paul Krugman calls “up and down economics” — in this case demand for $10+ wine is up, demand for cheaper wines is down –but rather it needs to be understood in the context of a broader set of wine market changes.

Fine wine tipped to be safe investment following Brexit decision
Investors looking for a safe bet following Britain’s decision to leave the EU are being told that fine wine could be the way to go. This week has seen the pound sterling drop to a 31-year low and that is set to make wine in cheaper in foreign currencies and stimulate demand from overseas, according to City A.M. And because of that, fine wine is expected to rise as it has definitive characteristics that tend to see it perform well when the pound is down.

New cellar master for Champagne Gosset
Odilon de Varine has been appointed as the new Gosset chef de cave, with immediate effect. The appointment follows the sudden death of previous cellar master Jean-Pierre Mareigner in May. A trained oenologist, de Varine joined Champagne Gosset in 2006 as deputy managing director. He will be continuing in this role, but will also be working closely with oenologists and the existing Gosset team as chef de cave, to carry on the work done by Mareigner.

Winery owners ashamed by oak tree cull
A billionaire couple lambasted for removing a swathe of oak trees at their Paso Robles vineyard have apologised stating that they are “ashamed and sorry” for their actions. Estate Vineyards LLC, a holding company which is managed by Justin Vineyards in Paso Robles and is a subsidiary of the multinational Wonderful Company, cut down hundreds of oak trees earlier this month to make room for more grapes on its 742-acre Sleepy Farm Road estate.

Treasury launches new St Huberts range under “Regional Gems” banner
Treasury Wine Estates today unveiled a new range of wines by Victorian winemaker St Huberts, representing the first major relaunch under the company’s Regional Gems strategy. Treasury said the range of wines, named The Stag, included a Chardonnay and Shiraz, both made in the classic cool climate style with grapes sourced from winemaking regions across Victoria. Angus McPherson, Treasury Wine Estates managing director for Australia and New Zealand, said The Stag launch was one of the most important innovations for the Regional Gems portfolio this year.

Government commits $2.5m to Mclaren Vale irrigation
McLaren Vale’s Irrigators Council yesterday received a $2.5m commitment from the Coalition to construct a 1200ml dam for water storage – securing a sustainable irrigation future for our region’s growers. The announcement, held at Torresan Estate bottling facility in McLaren Vale, was attended by Minister for Trade and Investment Steven Ciobo, State Liberal Leader Steven Marshall and Member for Mayo Jamie Briggs.

Max Allen on Morris Wines closure
The closure of Morris Wines in Rutherglen is a devastating blow: for the people who will lose their jobs, for the heart and soul of the region, and for Australian wine lovers, especially those of us who think the Morris Rare Muscat is one of the greatest wines in the world.

Phillip White on the wine industry's reaction to Brexit
Philip White marvels at the wine industry's sudden surprise at the Brexit referendum and its implications. Jeez. Everyone’s shocked. But over the weekend, Marc Soccio of the wine and agriculture industry finance house, Rabobank, worked out a statement. He thought a lower pound would send whatever was left of the United Kingdom out looking for suppliers of cheaper meat and wine.

Blue skies for Cloudy Bay as restaurants keep Woolies and Coles in check
Upmarket New Zealand wine producer Cloudy Bay generates about 65 per cent of its Australian sales from on-premise outlets such as restaurants and bars and the company's boss says it's an important factor in a concentrated market where Woolworths and Coles dominate liquor retailing. Cloudy Bay is part of the LVMH luxury goods stable that includes a large number of luxury champagne brands including Veuve Clicquot, Moet & Chandon and Krug, along with prestige clothing, accessories and watches brands such as Christian Dior, Givenchy and TAG Heuer.

Seresin Estate partners With Mineral
A new partnership between Seresin Estate and Mineral is a positive step forward, says Seresin Estate General Manager Michelle Connor. She announced today that Mineral is to include the Seresin, OSIP and MOMO brands in its portfolio for distribution in New Zealand. “Our two businesses share a common ethos and place a high value on forging strong relationships. This new partnership will enable Seresin Estate to work more closely with our domestic customers.”

New Zealand Winegrowers offers scholarship to Australian Sommeliers
New Zealand Winegrowers yesterday launched their 2017 sommelier scholarship program, offering Australian sommeliers the opportunity to take part in one of two Sommelier summits, or Sommits. The Sommits will be held in New Zealand in early 2017, with attendees also being invited to attend a number of other key events on the New Zealand wine calendar during their trip.





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